Nexxen International (NASDAQ:NEXN) Sets New 1-Year High – Here’s Why

Nexxen International Ltd. (NASDAQ:NEXN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.43 and last traded at $9.27, with a volume of 57701 shares traded. The stock had previously closed at $8.81.

Analysts Set New Price Targets

Several brokerages have commented on NEXN. Royal Bank of Canada increased their price target on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Needham & Company LLC lifted their price objective on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Lake Street Capital boosted their target price on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Nexxen International Trading Up 2.2 %

The firm has a market cap of $659.46 million, a P/E ratio of 247.75 and a beta of 1.86. The stock has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $7.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.43.

Nexxen International (NASDAQ:NEXN) last released its earnings results on Thursday, August 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $88.58 million for the quarter, compared to the consensus estimate of $85.75 million. Nexxen International had a net margin of 3.96% and a return on equity of 7.49%. During the same period in the prior year, the company posted $0.03 EPS. On average, research analysts expect that Nexxen International Ltd. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. Guinness Atkinson Asset Management Inc acquired a new position in Nexxen International in the third quarter valued at $31,000. Blue Trust Inc. lifted its holdings in shares of Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after purchasing an additional 3,931 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Nexxen International in the third quarter valued at about $123,000. Marshall Wace LLP purchased a new position in shares of Nexxen International during the second quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nexxen International during the second quarter valued at approximately $141,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company’s demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.